Mortgage Rates have risen to 6.62% today per Mortgage News Daily, up from 6.11% on 9/11/2024 when investors expected the Federal Reserve to cut its Federal Funds rate by 0.5%, which they did.

September 2024 Inflation running hotter than expected which impacts Future Federal Reserve Rate Cuts
12 month CPI inflation rose 2.4% and Core Inflation (all items less food and energy) rose 3.3%. The Federal Reserve’s target is 2%.
September 2024 Monthly CPI rose 0.2% and Monthly Core Inflation rose 0.3%.

Single Family & Condo Median Prices and Units Sold fell Month over Month
From August 2024 to September, 2024:
Single Family: Median Prices fell -6.7% and sold units fell -24.5%.
Condo:            Median Prices fell -7.9% and sold units fell -20.3%.

• To view data for every Essex County town, http://www.sullivanteam.com/Properties/Reports/Public/Charts.php
  
  
• To Download the full housing report go to:  http://sullivanteam.com/pages/EssexCountyHousingReports